Orbs, has announced an investment plan of $600k in a decentralized exchange, THENA.
The blockchain infrastructure company said that the investment plan is geared towards improving and expanding THENA’s decentralized products as well as upgrading the BNB chain’s operating landscape.
With this investment move, Orbs aims to ensure that the Web3 and blockchain projects can reach their full potential. Therefore, to achieve this, the blockchain company stressed the need to improve the functionalities of EVM chains.
According to Ankit Saxena, THENA CEO and Co-Founder, the company is happy with this vision and the new partnership. Ankit further said that Orb’s vision is in line with THENA’s, stressing that the development will strengthen mutually beneficial relations across the Asian onchain market.
Orba has also pledged technical support to the decentralized exchange company to ensure that the funding is put to good use and THENA can achieve set goals, which include increased liquidity, transactional efficiency and price.
To this end, some initiatives have been put in place to achieve a good number of existing user engagements and also onboard new users, which will help put the company ahead or on par with other web3 company competitors.
According to Orb, the first tranche of the investment will be paid to treasure as a strategic reserve. According to the company, this will ensure long-term sustainability and THENA’s success on this newly embarked journey.
Although this new partnership will not be the first ever recorded between these giants, Orbs and Thena have in the past collaborated on projects that have been reported to be productive.
For example, in June this year, THENA was reported to collaborate with Orbs dLIMIT and dTWAP to improve the trading functions of its native decentralized exchange and also improve the trading experience for users.
Thus, with this new collaboration, THENA users are set to enjoy an improved user experience and strengthen the DEX platform’s presence in the Asian on-chain market, among other initiatives that are in the pipeline with this collaboration and capital investment.
What you need to know about Orbs
Orbs was founded in 2017, and since its inception, the blockchain infrastructure company has focused on innovation and use cases that are supported by network technology.
Orbs is popular for its protocols, which are dTWAP and dLIMIT, which are fully decentralized and compatible with most decentralized exchanges (DEX).
Orbs token is live on major exchanges such as SpookySwap, THENA, Chronos, to mention a few.
